Celsius transfers $74.3 million in Ethereum to Figment staking service

The crypto-lending platform Celsius Network transferred 40,928 ETH (roughly $74.37 million) to the account of the institutional-oriented staking service Figment. A series of 14 transactions from May 10 to May 12 was recorded by Arkham Intelligence.

These are among the firm’s largest transfers since bankruptcy filing under Chapter 11 of the United States Bankruptcy Code in July 2022.

Placing funds with Figment will allow Celsius to generate income during the restructuring.

According to веб-сайту сервиса, в среднем вознаграждение от стейкинга составляет 5.6% годовых.

The crypto-lending platform launched a similar service last year with $289.5 million under management.

«Интересно, что они решили сделать ставку на Figment вместо своего собственного пула», — прокомментировал аналитик 21Shares Том Ван.

Celsius also holds stETH from Lido Finance valued at about $750 million.

In late April 2023, an auction of the platform’s assets began. Media reports say the bidders include NovaWulf Digital Management, as well as bitcoin exchanges Gemini and Coinbase.